Wheels Up (UP) Announces Reverse Stock Split, Shares Down 25% Intra-Day
Wheels Up Experience Inc. announced today (Apr. 14) that it expects to complete a reverse stock split effective immediately after the close on April 24th.
(Atlanta, Georgia) Wheels Up Experience Inc.(NYSE: UP) announced today (Apr. 14) that the company expects to complete a reverse stock split of its Class A common stock, $0.0001 par value per share, at a ratio of 1-for-20, effective immediately after the close of trading on The New York Stock Exchange on April 24th.
Image of a Wheels Up Embraer Phenom 300 courtesy of Wheels Up.
Per today’s press release from Wheels Up, the company believes that post-reverse stock split, assuming the stock price of the Common Stock meets or exceeds $1.00 for the requisite period of time, it will promptly regain compliance with the NYSE’s listing standards and qualify for inclusion in the Russell 3000.
Wheels Up’s Common Stock is expected to begin trading on the NYSE on a reverse split-adjusted basis on April 27, 2026, under the ticker symbol "UP."
"As part of the Delta-led investment in 2023, we issued more than 670 million shares to our lenders, leaving the company with a much higher share count than many of our peers,” said Wheels Up Chief Executive Officer George Mattson. “Today’s announcement allows us to realign our share count and remain focused on sustainable, profitable growth and our differentiated, customer-first business model.”
UP shares are down more than 25% at $0.4041 intra-day as of 11.30am ET.
** Not investment advice; neither The FLY Report nor FLYJETS – nor any associated individual – is a registered investment adviser.
